$SPX - Divergences continue and the $VIX is finding support
$S&P 500(.SPX)$ - Divergences continue and the $Cboe Volatility Index(VIX)$ is finding support, but as long as price action does not break key levels, there is no reason to consider a bearish setup validated.
On the contrary, price may continue moving up IF the Bollinger widens as in previous occurrences, and also considering that a bullish crossover in MACD has been printed. Both indicators highlighted in the chart during June/July.
CPI came higher than expected, and Jobless Claims worse than expected, will the market price more jumbo rate cuts?
YoY was better than expected: 2.4% versus 2.3% consensus, however, the Initial Jobless Claims were 258K, higher than 231K consensus.
$Invesco QQQ(QQQ)$ $Meta Platforms, Inc.(META)$
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